Powering India’s Future: NTPC Awards 1.5 GW Wind-Solar Hybrid Projects at Record Low Tariffs
Axis Energy, Juniper Green Energy, ReNew, and Acme Secure Contracts in NTPC’s Tranche-IV Auction, Marking a Significant Leap in Renewable Energy Expansion
In a landmark development for India’s renewable energy sector, the National Thermal Power Corporation (NTPC) has allocated 1.5 gigawatts (GW) of wind-solar hybrid projects to leading developers at a remarkably low tariff of $0.040 per kilowatt-hour (kWh). The auction, conducted for projects connected to India’s interstate transmission system (ISTS), saw enthusiastic participation from key players in the industry.
Setting the Stage for Sustainable Growth
Axis Energy, Juniper Green Energy, ReNew, and Acme emerged as the winners in NTPC’s Tranche-IV tender, showcasing the industry’s commitment to driving renewable energy expansion in the country. With an average tariff of INR 3.30/kWh, these projects represent a significant step towards achieving India’s ambitious renewable energy targets.
Record-Breaking Bids and Strategic Allocation
ABC Cleantech, operating under Axis Energy, secured the lion’s share of 750 MW by submitting the lowest tariff bid of INR 3.27/kWh, setting a new benchmark for competitiveness in the sector. Juniper Green Energy followed closely, securing 300 MW at INR 3.29/kWh, reaffirming the industry’s confidence in the viability of wind-solar hybrid projects.
ReNew and ACME Cleantech also clinched contracts, with ReNew securing 300 MW and ACME Cleantech securing 150 MW, both at competitive tariffs of INR 3.32/kWh. These allocations underscore the diverse participation and robust competition witnessed in the auction process.
A Paradigm Shift in Renewable Energy Dynamics
The winning developers will execute the projects on a build-own-operate (BOO) basis, showcasing a collaborative approach between the public and private sectors to drive renewable energy deployment. These projects hold the potential to transform India’s energy landscape, providing clean and sustainable power to meet the nation’s growing electricity demand.
Pioneering Progress and Future Prospects
The successful conclusion of NTPC’s Tranche-IV tender marks a significant milestone in India’s journey towards a greener and more sustainable future. By leveraging the immense potential of wind-solar hybrid projects, the country is poised to reduce its carbon footprint while ensuring energy security and affordability for all.
As the world looks towards renewable energy as a solution to climate change and energy security challenges, India’s strides in this direction serve as a beacon of hope and inspiration. With innovative initiatives like NTPC’s auctions, the nation is paving the way for a brighter and cleaner tomorrow.
